If you recently started or plan to start a business in Peachtree Cor GA or have another taxable entity one of the first things you will want to do is obtain your Tax ID in Peachtree Cor GA.
Obtaining a Tax ID Number (EIN)
When starting a business in Peachtree Cor GA, serving as the administrator or executor of an estate, creator of a Trust or operating a Non Profit Organization obtaining a Tax ID (EIN) is a key responsibility. A Tax ID also known as an Employer ID Number (EIN) is a unique nine digit number that identifies your business or entity with the IRS for tax purposes, essentially like a Social Security Number for the entity. A Tax ID (EIN) is used for opening a business
bank account, filing business tax returns and in many cases is required when applying for business licenses. In most cases it is helpful to apply for a Tax ID (EIN) as soon as your start planning a business to ensure that there are no delays in obtaining the correct licenses, financing and opening a business bank account that would be needed to operate.
Information to Consider Prior to Applying
Before applying for your Tax ID (EIN) you may want to consider a few things before starting the application including:
- Determine which structure your business or organization will operate as
- Determine the individual or organization that will serve as the responsible party
- Determine the physical address the business/entity will use – A physical address is required for all Tax ID (EIN)’s and a separate mailing address can be specified
Definition of Entities
- Sole Proprietor – An individual who owns a company that is not incorporated or registered with the state as a limited liability company (LLC).
- Limited Liability Company (LLC) – A LLC is a structure formed by filing articles of organization which allows members limited liability protection and pass through taxation.
- Corporation – A person or group of people who establish a legal entity by filing articles of incorporation with the state’s secretary of state.
- Estate of Deceased – An estate (or decedent estate) or succession is a legal entity created as a result of a person’s death.
- Trusts – All types of trusts including conservatorships, custodianships, guardianships, irrevocable trusts, revocable trusts, and receiverships.
- Partnership – An unincorporated organization in which two or more individuals share the profits and liabilities of a business venture.
- Church – For tax purposes, a “church” refers to any organization claiming to be a church including temples, mosques, and other houses of worship.
- Non-Profit Organization – Includes public charities, educational organizations, PTA/PTO Organizations, Community Sports Teams, Homeowners/Condo Associates, etc.
Georgia State Tax ID
Outside of obtaining your Federal Tax ID (EIN) in Peachtree Cor GA you will also likely need a Georgia State Tax ID. This ID is needed to pay business taxes, state income tax and/or sales tax on items you sell. Generally the State Tax ID is used for the follow:
- Sales and Use Tax
- Employee Income Tax Witholding
- Sales Tax Exemption Permits
- Excise Taxes for items like Alcohol, Tobacco, Firearms, Oil & Gas, heavy machinery, etc.
For specific detail refer to the Georgia State Website at https://georgia.gov/popular-topic/applying-state-taxpayer-identification-number
Cities in Georgia
- Rockbridge, GA
- Norcross, GA
- Peachtree Corners, GA
- Berkeley Lake, GA
- Parkway, GA
- Winters Chapel, GA
- Doraville, GA
- State Farm Insurance Co, GA
- Primerica Financial Services, GA
- Duluth, GA
- North Metro, GA
- Chamblee, GA
- Tucker, GA
- Dunwoody, GA
- North Springs, GA
- Lilburn, GA
- Sandy Springs, GA
- North Atlanta, GA
- Sandy Spgs, GA
- Clarkston, GA
- Smoke Rise, GA
- Vista Grove, GA
- North Decatur, GA
- Pine Lake, GA
- Scottdale, GA
- Briarcliff, GA
- St Mountain, GA
- Stone Mtn, GA
- Memorial Square, GA
- Stone Mountain, GA
- St Mtn, GA
- Johns Creek, GA
- Suwanee, GA
- Tuxedo, GA
- Brookhaven, GA
- Avondale Est, GA
- Avondale Estates, GA
- Emory University, GA
- Lawrenceville, GA
- Northlake, GA
- Perimeter Center Finance, GA
- Embry Hls, GA
- Decatur, GA
- Roswell, GA
- Sandy Plains, GA
- Druid Hills, GA
- North Highland Finance, GA
- Belvedere, GA